Tpp trade deal

Japan and New Zealand had been leading efforts to get the remaining 11 countries to continue with the agreement. Countries remaining in the Trans-Pacific Partnership (TPP) agreed on Sunday to explore ways to move the trade deal forward after U.S. President Donald Trump's pulled out in his switch to an "America First" policy. The decision, which fell short of a wholehearted commitment to move ahead immediately, came on the sidelines of a meeting of Asia-Pacific Economic Cooperation (APEC) countries that has highlighted the turmoil in global trade negotiations.
Vietnam's Prime Minister Nguyen Xuan Phuc (C, front) poses for a photo with APEC trade ministers during the APEC Ministers Responsible For Trade (APEC MRT 23) meeting in Hanoi, Vietnam May 20, 2017. Photo by Reuters/Kham
Japan and New Zealand had been leading efforts to get the remaining 11 countries to continue with the agreement. "The countries are going to put forward proposals on how to take TPP forward in … [Read more...] about In Vietnam, TPP trade deal members agree to seek way forward without US

Asia-Pacific ministers said on Wednesday (Mar 15) they would seek to move forward on a trade agreement resembling the Trans-Pacific Partnership after President Donald Trump killed the deal by withdrawing the United States.
After two days of high-level meetings in Chile, officials from the 11 other countries in TPP - plus China and South Korea - wrapped up their talks with no clear plan to replace the defunct deal but a dogged determination not to throw out years of painstaking negotiations. "We have decided to move forward together, in particular with the Asia-Pacific countries," Mexican Foreign Minister Luis Videgaray told a news conference, without specifying which ones. "The withdrawal of a very important member of TPP opens up new opportunities," he said. Negotiated under former US president Barack Obama, who wanted to counter China's rising influence, TPP was to have slashed tariffs and tightened trade ties between countries accounting for some 40 per cent of the world economy. … [Read more...] about Asia-Pacific seeks to save TPP trade deal without US DTiNews

U.S. President Donald Trump formally withdrew the United States from the Trans-Pacific Partnership trade deal on Monday, distancing America from its Asian allies, as China's influence in the region rises. Fulfilling a campaign pledge to end American involvement in the 2015 pact, Trump signed an executive order in the Oval Office pulling the United States out of the 12-nation TPP. Trump, who wants to boost U.S. manufacturing, said he would seek one-on-one trade deals with countries that would allow the United States to quickly terminate them in 30 days "if somebody misbehaves." "We're going to stop the ridiculous trade deals that have taken everybody out of our country and taken companies out of our country," the Republican president said as he met with union leaders in the White House's Roosevelt Room. The TPP accord, backed heavily by U.S. business, was negotiated by former Democratic President Barack Obama's administration but never approved by Congress. Obama had framed TPP, which … [Read more...] about Trump pulls U.S. out of Pacific trade deal, loosening Asia ties

(VOVworld) - Japan’s Prime Minister Shinzo Abe vowed on Monday to swiftly ratify the Trans-Pacific Partnership trade pact and find new avenues for economic growth at the start of a 66-day extraordinary legislative session. He stressed that bills related to the TPP, which were signed by Japan and 11 other Pacific Rim countries in February, will be high on the government’s agenda during the session. Abe held up the TPP as a pillar of his administration’s growth strategy. He said that, using the early entry into force of the TPP as an opportunity, Japan will aim to reach a target of 1 trillion yen in annual agricultural exports. At the session, Japan’s government will push through bills relating to a second supplementary budget for the current fiscal year ending in March. The supplementary budget plan could be implemented as soon as the middle of next month, following deliberations by Diet budget committees. … [Read more...] about Japan vows to find new avenues for economic growth and ratify TPP trade deal

U.S. President Barack Obama said on Monday that a Chinese-led regional trade deal demonstrated the urgent need for Congress to approve the 12-nation Trans-Pacific Partnership trade pact.
Obama has been pushing to finalize the TPP before he leaves office on Jan. 20, but he needs to overcome strong anti-trade sentiment from both the left wing of his own Democratic Party as well as from the right flank of the Republican Party.
Voter anxiety over the impact of trade deals on jobs and the environment has featured large in the campaigns of Donald Trump, the Republican front-runner for the Nov. 8 presidential election, and U.S. Senator Bernie Sanders, who is running against Hillary Clinton for the Democratic nomination.
In an opinion piece published on the website of the Washington Post on Monday, Obama said he understood voter skepticism but that "building walls to isolate ourselves from the global economy" would backfire on the American economy.
"China is negotiating a trade deal … [Read more...] about Obama says Chinese-led trade deal shows need for TPP: Washington Post